SNH: A development catalyst for Cameroon
The National Hydrocarbons Corporation of Cameroon (SNH) is a public industrial and commercial company with financial autonomy. It was created on 12th March 1980 and has its head office in Yaoundé.
SNH has the mission to manage State interests in the oil and gas sector. As such:
• SNH promotes, develops and monitors oil and gas activities throughout the national territory. Within this framework, the company works in association with international oil companies, ensuring notably compliance with all regulatory texts as well as control of production costs. In addition, SNH is a full oil operator, after putting on production of the Mvia field, which the company has been operating since 2009.
• SNH sells the share of national crude oil production accruing to the State on the international market, through contracts, as well as its own share as an investor. It also carries out trading activities on behalf of one of her its partners, at their request. The selling prices of Cameroonian crude oil grades are set in relation to Dated Brent, which is the reference crude oil of the London market. Depending on market conditions, the prices feature discounts or premiums, which reflect the difference in quality compared to Brent, the cost of transport to target markets, the cyclical demand for this type of crude oil, etc.
Sales revenues are transferred to the Public Treasury after deduction of production costs. These transfers alone (excluding taxes and dividends) amount to about CFAF 4,400 billion for the 2010-2019 decade.Income derived from sales is transferred to the Public Treasury after deducting production costs. The transfers alone (excluding taxes and dividends) amounted to almost 4 400 billion CFAF for the 2010-2019 decade.